,i  #aac? ,,congress  #a/ ,session  ,h4 
,r4 #cjac  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,augu/ #b1 #bjac ,mr4 
,cassidy 7= himself1 ,mr4 ,palazzo1 ,mr4
 ,alex&]1 ,mr4 ,b\/any1 ,mr4 ,scalise1  
,mr4 ,nunnelee1 ,mr4 ,jones1 & ,mr4     
,grimm7 introduc$ ! foll[+ bill2 :i* 0  
ref]r$ to ! ,committee on ,f9ancial     
,s]vices  ,a ,,bill  ,to re=m !         
,national ,flood ,insurance ,program1 & 
= o!r purposes4  #a4 ,%ort title ,?is   
,act may be cit$ z ! ,home ,protection  
,act ( #bjac4  #b4 ,mapp+ (             
non-/ructural flood mitigation features 
,section #ajjbaf ( ! ,bigg]t-,wat]s     
,flood ,insurance ,re=m ,act ( #bjab    
7#db ,u4,s4,c4 #daja;b7 is am5d$--  7#a7
 9 subsection 7b77#a77;,a7--  7,a7 9    
clause 7iv71 by /rik+ & at ! end2  7,b7 
by r$esignat+ clause 7v7 z clause 7vi72 
7,c7 by ins]t+ aft] clause 7iv7 ! foll[+
 new clause3  7v7 areas t are protect$  
by pump+ /ations1 dec]tifi$ levees1 or  
non-,f$]al or non-/ructural flood       
protection measures2 &  2 &  7,d7 9     

clause 7vi7 7z s r$esignat$71 by /rik+  
flood control /ructures & ins]t+ flood  
control /ructures1 pump+ /ations1       
dec]tifi$ levees1 or non-,f$]al or      
non-/ructural flood mitigation measures2
 &  7#b7 9 subsection 7d77#a7--  7,a7 by
 r$esignat+ subp>agraphs 7,a7 ?r\gh 7,c7
 z subp>agraphs 7,b7 ?r\gh 7,d71        
respectively2 &  7,b7 by ins]t+ be=e    
subp>agraph 7,b7 7z s r$esignat$7 !     
foll[+ new subp>agraph3  7,a7 "w )      
,/ates1 local communities1 & prop]ty    
own]s to id5tify areas & measures       
describ$ 9 subsection 7b77#a77;,a77v72  
4  #c4 ,apply+ circul> w9d models to    
flood insurance rate maps ,section      
#ajjbaf7;b77#c7 ( ! ,bigg]t-,wat]s      
,flood ,insurance ,re=m ,act ( #bjab    
7#db ,u4,s4,c4 #daja;b7b77#c77 is       
am5d$--  7#a7 9 subp>agraph 7,d71 by    
/rik+ & at ! end2  7#b7 by r$esignat+   
subp>agraph 7,e7 z subp>agraph 7,f72 &  
7#c7 by ins]t+ aft] subp>agraph 7,d7 !  
foll[+ new subp>agraph3  7,e7 9         
consultation ) ! ,secret>y ( ! ,army1   

act+ ?r\gh ! ,*ief ( ,eng9e]s1 any      
relevant in=mation t leads to !         
appropriate use ( circul> w9d models = !
 application ( /illwat] elevation       
calculations2 &  4  #d4 ,home improvem5t
 fairness ,section                      
#acjg7;a77#b77;,e77ii7 ( ! ,national    
,flood ,insurance ,act ( #aifh 7#db     
,u4,s4,c4 #djad7;a77#b77;,e77ii77 is    
am5d$ by /rik+ #cj p]c5t & ins]t+ #ej   
p]c5t4  #e4 ,con/ruction & re/oration ( 
flood protection sy/ems  7a7 ,adequate  
progress on con/ruction ( flood         
protection sy/ems ,section #acjg7;e7 ( !
 ,national ,flood ,insurance ,act (     
#aifh 7#db ,u4,s4,c4 #djad7;e77 is      
am5d$--  7#a7 9 ! fir/ s5t5ce1 by ins]t+
 or recon/ruction aft] con/ruction2     
7#b7 9 ! second s5t5ce1 by /rik+        
con/ruction ( a flood protection sy/em z
 requir$ h]e9 has be5 only if & ins]t+  
con/ruction or recon/ruction ( a flood  
protection sy/em has be5 made only if1  
bas$ on ! pres5t value ( ! complet$     
sy/em2 &  7#c7 by add+ at ! end ! foll[+

 new s5t5ce3 ,! ,adm9i/rator %all n     
consid] ! level ( ,f$]al fund+ ( or     
p>ticipation 9 ! con/ruction or         
recon/ruction ( a flood protection sy/em
 9 det]m9+ :e!r adequate progress on su*
 con/ruction has be5 made44  7b7        
,communities re/or+ disaccr$it$ flood   
protection sy/ems ,section #acjg7;f7 ( !
 ,national ,flood ,insurance ,act (     
#aifh 7#db ,u4,s4,c4 #djad7;f77 is am5d$
 9 ! fir/ s5t5ce by /rik+ no long] does 
s4 & ins]t+ ! foll[+3 no long] does s1 &
 %all apply )\t reg>d to ! level (      
,f$]al fund+ ( or p>ticipation 9 !      
re/oration ( ! flood protection sy/em44 
#f4 ,/ate & local gov]nm5t flexibility  
,! ,national ,flood ,insurance ,act (   
#aifh 7#db ,u4,s4,c4 #djja et seq47 is  
am5d$ by ins]t+ aft] section #acjh !    
foll[+3  #acjh;,a4 ,/ate & local        
gov]nm5t flexibility  7a7 ,9 g5]al ,!   
,adm9i/rator %all issue regulations to  
e/abli% a means by :i* a ,/ate or local 
gov]nm5t may1 on its own accord or 9    
conjunction ) o!r ,/ate or local        

gov]nm5ts1 submit su* paym5ts to !      
,adm9i/rator z are necess>y to cov] "p  
or all ( ! co/ ( any premium = any      
prop]ty )9 ! jurisdiction ( ! ,/ate or  
local gov]nm5t4  7b7 ,risk premium rate 
,! ,adm9i/rator %all1 "u ! regulations  
issu$ "u subsection 7a71 require t !    
am\nt ( any paym5t f a ,/ate or local   
gov]nm5t "u su* regulations be consi/5t 
) sections #acjg & #acjh4  4  #g4       
,appropriate cr$it = flood control      
/ructures ,section #acfj ( ! ,national  
,flood ,insurance ,act ( #aifh 7#db     
,u4,s4,c4 #daja7 is am5d$ by add+ at !  
end ! foll[+3  7k7 ,actual protection   
provid$ by levee sy/ems ,! ,adm9i/rator 
may n publi% a flood insurance rate map 
or an update to a flood insurance rate  
map = an area unless--  7#a7 ! flood    
insurance rate map or update adequately 
reflects ! level ( protection provid$ by
 any flood protection sy/em = su* area1 
includ+ a pump+ /ation1 dec]tifi$ levee1
 or non-,f$]al or non-/ructural flood   
mitigation measure1 aga9/ ! #ajj-ye>    

frequ5cy flood1 reg>dless ( !           
accr$itation /atus ( ! flood protection 
sy/em2 or  7#b7 ! community = :i* a     
flood protection sy/em provides         
protection elects n to provide ! data   
necess>y = ! ,adm9i/rator to publi% a   
flood insurance rate map or update t    
adequately reflects ! protection provid$
 by ! flood protection sy/em aga9/ !    
#ajj-ye> frequ5cy flood4  4  #h4        
,integration ( revis$ levee analysis &  
mapp+ proc$ures ,not)/&+ any o!r        
provision ( law1 p>agraphs 7#a7 & 7#b7 (
 section #acjg7;g7 ( ! ,national ,flood 
,insurance ,act ( #aifh 7#db ,u4,s4,c4  
#djad7;g77 %all h no =ce or effect )    
respect to a prop]ty until--  7#a7 !    
,adm9i/rator ( ! ,f$]al ,em]g5cy        
,managem5t ,ag5cy publi%es or updates a 
flood insurance rate map = ! area 9 :i* 
! prop]ty is locat$ t adequately        
reflects ! protection provid$ by any    
flood protection sy/em = su* area1      
includ+ a pump+ /ation1 dec]tifi$ levee1
 or non-,f$]al or non-/ructural flood   

mitigation measure1 aga9/ ! #ajj-ye>    
frequ5cy flood1 )\t reg>d to !          
accr$itation /atus ( ! flood protection 
sy/em2 or  7#b7 ! community 9 :i* su*   
prop]ty is locat$ elects n to provide ! 
data necess>y = ! ,adm9i/rator to publi%
 a flood insurance rate map or update t 
adequately reflects ! protection provid$
 by any flood protection sy/em1 includ+ 
a pump+ /ation1 dec]tifi$ levee1 or     
non-,f$]al or non-/ructural flood       
mitigation measure4  #i4 ,alt]native    
approa* = assess+ & pric+ flood risk ,x 
is ! s5se ( ! ,h\se ( ,repres5tatives   
t--  7#a7 !re %\ld be e/abli%$ 9 ! ,h\se
 ( ,repres5tatives a ,bip>tisan ,task   
,=ce on ,innovation 9 ,f9anc+ ,flood    
,risk ) ! prim>y purpose ( compil+ data 
& in=mation on innovative m>ket-bas$    
solutions to make flood insurance m     
accessible & af=dable = all ,am]icans2 &
  7#b7 su* ,task ,=ce %\ld--  7,a7      
consult ) flood risk managem5t /akehold]
 gr\ps1 insur]s1 re9sur]s1 ,/ate        
regulators1 & f9ancial exp]ts           

kn[l$geable & int]e/$ 9 f9d+ innovative 
new rate me?odologies & approa*es to    
f9anc+ flood risk1 includ+ insurance    
risk securitization2  7,b7 compile      
in=mation on exi/+ risk assessm5t       
me?odologies t--  7i7 id5tify & /&>dize 
broad] types ( risks1 haz>ds1 /ructures1
 & losses1 at a granul> level1 fac$ by  
prop]ty own]s & communities1 t helps    
inve/ors1 buy]s1 regulators1 &          
policymak]s f9d+ a me?odology to        
facilitate transp>5cy & liquidity :ile  
r$uc+ risk & increas+ asset value ?r\gh 
! cle> r$uction ( risk unc]ta9ty2  7ii7 
enc\rage transp>5cy 9 ! developm5t (    
,flood ,insurance ,rate ,maps t ! ,f$]al
 ,em]g5cy ,managem5t ,ag5cy uses to     
assign risk 9 flood-risk zones2  7iii7  
introduce f9ancial or non-f9ancial risk 
det]m9ation1 analysis1 & valuation (    
individual mortgages & h\s+ transactions
 9 a unifi$ approa* t includes eng9e]+  
/ructures & environm5tal risks 9 ! pric+
 by risk elem5ts ( cata/rophe-l9k$      
products2  7iv7 integrate diff]5t       

approa*es 7f9ancial1 actu>ial1 &        
eng9e]+7 into "o pric+ framework t      
complem5ts mod]n flood risk analysis &  
captures pot5tial losses z accurately z 
possible2  7v7 granulate ! risks & value
 & (f] risk-diff]5tiat$ & risk-specific 
solutions s t any diff]5tiat$ risk c be 
r$i/ribut$ & div]sifi$ 9 num]\s ways2   
7vi7 explore transp>5cy indexes t l9k   
monet>y value to risk disclosure2 &     
7vii7 av]age national cata/rophic insur$
 losses & appropriately assign weights &
 risk values to equitably di/ribute     
cata/rophic1 all-p]il insurance risk2   
7,c7 consid] ! relation%ip betwe5 new   
transp>5t1 b5*m>k pric+ ( flood         
insurance-l9k$ securitization & /ructur$
 cata/rophe d]ivatives t integrates     
eng9e]+1 f9ancial1 & actu>ial p>amet]s  
to r$uce ! co/ ( mitigat+ f9ancial      
losses due to floods2  7,d7 evaluate    
options =--  7i7 educat+ policyhold]s on
 me?ods = risk mitigation2  7ii7        
integrat+ policyhold] & capital m>ket   
p>ticipants1 includ+ inve/ors1 9 !      

entire risk-f9anc+ process to demon/rate
 or feature specific sy/em measures t   
increase asset value2 &  7iii7 express+ 
diff]5t ways to inc5tivize bo? !        
f9ancial m>kets & ! individual m>ket    
p>ticipant to update all risk           
disclosures & risk-rem$iat+ actions on  
an individual basis2 &  7,e7 n lat] ?an 
#ahj days aft] ! date ( ! enactm5t ( ?is
 ,act1 report f9d+s1 options1 &         
recomm5dations to ! ,h\se (             
,repres5tatives ) reg>d to !            
consid]ation ( future flood-risk        
analysis & risk innovation 9 pric+4